In October 2012 when the NCUA announced the loan delinquency reporting change from months to days, CU*Answers, the 100% credit union-owned cooperative CUSO, started planning and preparing for the necessary updates to our software tool CU*BASE®. Implemented with the April 2013 software release, our system now calculates the actual number of days delinquent and reports the loans in the appropriate 30-59 days, 60-179 days, 180-359 days, or >=360 days categories.

In addition to the loan delinquency reporting change for the June Call Report, CU*Answers is also prepared for these NCUA updates:
Account Codes are added for reporting delinquency and charge offs for new and used vehicle loans.
Account codes are added for unfunded commitments, credit impaired loans and investments.

CU*Answers has a dedicated resource on staff who monitors the NCUA changes, updates the software, procedures and documentation accordingly. Jim Vilker, Manager of the Audit Link Department states “Since the CU*BASE software tool was introduced four years ago, we have consistently made Call Report changes in a timely manner and met NCUA deadlines”.